CAO The Hindu NOTES – 13th Mar, 2018 (Daily News Paper Current Affairs Analysis)

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Date:- 13th Mar 2018

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S-400 DEAL MAY BE FINALISED BY MARCH 31 (GS 3 DEFENCE)

India and Russia is just few weeks away from signing one of the biggest defence deals between the two sides in recent history for the purchase of advanced missile defence system, a game-changer in countering airborne threats.

The negotiations to conclude a commercial contract for the purchase of the S-400 Triumf long range air defence systems are in the final stages, and are expected to be closed in this month

The decision for purchase had been concluded through an Inter-Governmental Agreement. Under the agreement India is to buy five S-400 systems and four stealth frigates.

About S-400 Tiumf

The S-400 Triumf, is considered one of the most advanced long-range defence systems in the world.

It can tackle all airborne targets at a range of up to 400 km

The system is capable of firing three types of missiles, hence creating a layered defence for any country that owns it.

The system is capable of firing three types of missiles, hence creating a layered defence for any country that owns it.


RBI FIXES CAP OF 1 YEAR FOR TRADE FINANCE INSTRUMENTS (GS 3 ECONOMY)

The Reserve Bank today has limited the tenor of all bank instruments in trade finance areas for a maximum period of one year.

The tenor has been limited to tighten the guidelines for hedging commodity price risks and freight risks in overseas markets in the backdrop of nation’s largest banking fraud coming out in the open recently  involving such instruments issued by a Punjab National Bank branch. The fraudsters alleged to have used a key loophole in the international trade finance front (SWIFT) to defraud the bank

What is ‘Trade Finance’

Trade finance represents monetary activities related to commerce and international trade. Trade finance includes lending, the issuance of letters of credit, factoring, export credit and insurance. Companies involved with trade finance include importers and exporters, banks and financiers, insurers and export credit agencies and service providers.

Various intermediaries such as banks and financial institutions can facilitate these transactions issuing instruments for financing the trade eg. LoU issued by PNB to Nirav Modi.

* Hedging means undertaking a derivative transaction to reduce identifiable and measurable risks which could be a direct or an indirect exposure.


1.36 LAKH JOBS ADDED IN JULY-SEPT., SAYS SURVEY (GS 3 ECONOMY)

Employment in eight key sectors, including manufacturing, IT and transport, rose by 1.36 lakh on net basis in July-September this financial year 2017-18.

The Labour Bureau stated that there were positive changes in seven out of eight sectors with Manufacturing sector adding 89,000 jobs, education sector  21,000 jobs and transport sector showing an addition of 20,000 jobs.

The survey also presents an interesting finding that female workers accounted for more jobs (74,000) outnumbering male workers (62,000)

Construction sector was the only segment that reported job losses.

About Quarterly Employment Survey (QES)

Labour Bureau’s revamped Quarterly Employment Survey (QES) was launched in April, 2016.

It measures relative change in employment situation over successive quarters in sizeable segment of Non-farm Industrial economy.

The survey covers 8 major sectors which constitute around 81 percent of the total employment of establishments employing 10 or more workers as per the sixth Economic census, conducted during January, 2013 to April, 2014.


‘ONE SPOON LESS OF SALT, SUGAR, OIL’ (GS 3 HEALTH)

The Indian Medical Association has given a mantra for tackling lifestyle diseases – ‘A teaspoon less of salt, sugar and oil’.

At first IMA wants to sensitise the public to the hazards of these food substances and motivate them to reduce their intake in order to prevent lifestyle diseases like obesity, hypertension, diabetes, and chronic kidney disease, which are becoming major health issue especially among the urban populace.

IMA also plans pressuring the government and industry to limit the quantity of these vital, yet potentially harmful, ingredients in popular foods.

WHO prescribes one teaspoon of salt, six to eight teaspoons of sugar, and four teaspoons of oil per person per day. However the average Indian consumption is a worrisome two to three teaspoons of salt, 16 to 20 teaspoons of sugar, and eight teaspoons of oil per person per day.


IIP QUICKENS TO 7.5%, INFLATION SOFTENS (GS 3 ECONOMY)

India’s industrial growth accelerated in January while inflation eased for the second month running in February, providing a twin boost to the economy and suggesting overall economic growth could accelerate further.

Industrial production growth rose higher than expected to 7.5% in January from 7.1% in the previous month on the back of strong manufacturing.

Overall, the manufacturing sector grew 8.7%, electricity 7.6% but mining was flat at 0.1%. Capital goods surged 14.6% compared with a 0.6% contraction in the year-ago period. Consumer durables contributed to the acceleration with 8% growth, indicating a recovery in urban demand while Consumer non-durables sector was up 10.5%, reflecting rural buoyancy, and altogether showing improvement of economic conditions in both urban and rural areas.

Consumer Price Index (CPI) showed a further decline in retail inflation to 4.44% in February from 5.1% in the previous month propelled by the food and beverages segment which slowed to 3.38% in February from 4.58% in the previous month and the fuel and light segment which slowed to 6.8% from 7.73% over the same period.


 

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